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Dec 24, 2012
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on taxes, i know it's hard for the republicans but the president ran on that platform, 250, no tax increase for people below but taxes for people above. 60% of the voters said they were for it in the exit polls, including some republicans and yet our republican colleagues by refusing to go along with revenues are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have to, the american people are going to blame the republican party and they'll come right back and pass something. so i don't think the middle class is at risk. if we go over the cliff, our republicans colleagues will come back and go uh-oh and pass the bill we passed in senate already. >> can check hagel become secretary of defense if he's the republican's nominee? >> a lot of republicans have asked hard questions. i don't think he's going to get many republicans votes. i like chuck but his positions are really out of the mainstream and well to the left of the president. i think it would be a challenging nominations but the hearings will matter. chuck will have a chance to
on taxes, i know it's hard for the republicans but the president ran on that platform, 250, no tax increase for people below but taxes for people above. 60% of the voters said they were for it in the exit polls, including some republicans and yet our republican colleagues by refusing to go along with revenues are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have to, the american people are going to blame the republican party and...
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Dec 26, 2012
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, they will have a tax cut. i think people have been thinking all along that really if push comes to shove, we'll do it in the new year and that seems to be what's developing. >> it creates an interesting dynamic, you'd have a new congress sworn in on january 3rd and ordinarily everyone goes home, get your picture taken, that's it. you're essentially swearing in a new congress and moving to the floor. that's something we haven't seen in quite a while, i'd say in the modern era. >> one of the odd things on the first day is elect a speaker. the majority party puts up -- this time it would be john boehner. the minority puts up their chosen leader, this time nancy pelosi. it's usually pro forma, but this time it has a real weight to it, because one of the reasons we're in this situation right now is because we're waiting for john boehner to be reelected to speaker of the house before they make a move, because only if 16 or 17 republicans don't vote for the guy, he could lose. they just want to wait. >> that's, i thi
, they will have a tax cut. i think people have been thinking all along that really if push comes to shove, we'll do it in the new year and that seems to be what's developing. >> it creates an interesting dynamic, you'd have a new congress sworn in on january 3rd and ordinarily everyone goes home, get your picture taken, that's it. you're essentially swearing in a new congress and moving to the floor. that's something we haven't seen in quite a while, i'd say in the modern era. >>...
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Dec 23, 2012
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the president ran on that platform, no tax increases pleau and taxes for people above. he won. 60% of the voters said they were for it in the exit poll, including some republicans and yet our republican colleagues by refuses to go along with revenues, are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have, to the american people are going to blame the republican party, and they will come right back and pass something, so i don't think the middle class is at risk because if we go over the cliff our republican colleagues will come back and say uh-oh and pass the bill we passed in the senate already. >> quick answer, could chuck hagel become the secretary of defense if he's the president's nominee? >> a lot of republicans are going to ask him hard questions, and i don't think he's going to get many republican votes. i like chuck and i didn't quite know all of his positions, outside the mainstream and well to the left of the president. the hearings will matter. >> would you support him? >> chuck will have a chanc
the president ran on that platform, no tax increases pleau and taxes for people above. he won. 60% of the voters said they were for it in the exit poll, including some republicans and yet our republican colleagues by refuses to go along with revenues, are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have, to the american people are going to blame the republican party, and they will come right back and pass something, so i don't...
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Dec 23, 2012
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no tax increases to people below but taxes for people above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> reporter: so again there is senator chuck schumer. so certainly still big topic of conversation despite the fact that everyone is now on recess. alex, yesterday we spoke to some folks who said this is really weighing on them as they enter the holiday season, as they do their christmas shopping, the uncertainty in washington kind of passing a cloud over their holiday. as for president obama, this is a working vacation, but he's clearly also relaxing quite a bit as well. he played a game of golf yesterday, went to dinner with the first lady and some friends. today, alex, partisan bickering will be put aside when many members of congress, the president, and the first lady attend a memorial service for the late senator daniel inoue held here. >> thank you so much. joining me now, national political reporter for politico david cant niece and associate editor for "roll call," david drucker. good
no tax increases to people below but taxes for people above. he won 60% of the voters said they were for it in the exit polls including some republicans. >> reporter: so again there is senator chuck schumer. so certainly still big topic of conversation despite the fact that everyone is now on recess. alex, yesterday we spoke to some folks who said this is really weighing on them as they enter the holiday season, as they do their christmas shopping, the uncertainty in washington kind of...
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Dec 24, 2012
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the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter which the recession may hit. when be look at the issue of a -- the markets, however, may feel the brunt of the fiscal cliff fallout. the dow fell on friday after the deal failed the night before. last week fitch warned it may downgrade the u.s. credit rating if congress cannot reach a deal. some lawmakers are angling for the best political outcountry. >> when i listen to the president, i think he's eager to go over the cliff for political purposes. he gets all this additional tax revenue for new programs, gets to cut the military which democrats have been calling for for years, and he gets to blame republicans for it. implts joining me are off and o
the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter which the recession may hit. when be look at the issue of a -- the markets, however, may feel...
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Dec 26, 2012
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if they're not going to agree to a tax -- holding taxes down for those under a million dollars, they're definitely not dealing with $400,000 so, therefore, let's go back to the $250,000. i think that hurt them, boehner. i think that's why boehner is being controlled, unfortunately, by the right wing. i agree with bernie sanders. very sad. i believe that boehner's a good man and wants a deal done and impossible with these folks. >> the finger's not only pointed at the republicans and the tea party caucus but also to some democrats. here's one of your republican colleagues this morning. take a listen to what she said. >> sure. >> everything -- it's just about scoring political points and i know that the american people are tired of that. they're tired of all of us. i understand that. we just make -- used car sales men look good. that's the only group below us. we have to get our act together and prove to the american people that we can regain the trust that they once had in us and get the job done. >> yeah. the perception -- go ahead, please, congressman. looking at the can kicked down th
if they're not going to agree to a tax -- holding taxes down for those under a million dollars, they're definitely not dealing with $400,000 so, therefore, let's go back to the $250,000. i think that hurt them, boehner. i think that's why boehner is being controlled, unfortunately, by the right wing. i agree with bernie sanders. very sad. i believe that boehner's a good man and wants a deal done and impossible with these folks. >> the finger's not only pointed at the republicans and the...
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Dec 22, 2012
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powers to oppose those taxes. grover norquist, who is, of course, a member of the board of the national rifle association. so the ceo of the nra took to a microphone in washington today to suggest a solution to the massacres of children in our schools and the solution is something he and his friends would not be willing to pay for. and he and his friends would attack any politician who attempted to pay for it. he reached for a variety of ways to make his point. >> we care about our money. so we protect our banks with armed guards. >> i don't know about you, but i cannot remember the last time i was in a bank that had an armed guard. all banks had them when i was a kid. and the armed guards couldn't stop bank robberies then. what stopped bank robberies in america was not armed guards. it was video cameras and automatic locking saves that cannot be opened no matter how much you scare a teller with a gun. i'm not just talking about small town banks that i go into. new york city banks do not have armed guards anymore.
powers to oppose those taxes. grover norquist, who is, of course, a member of the board of the national rifle association. so the ceo of the nra took to a microphone in washington today to suggest a solution to the massacres of children in our schools and the solution is something he and his friends would not be willing to pay for. and he and his friends would attack any politician who attempted to pay for it. he reached for a variety of ways to make his point. >> we care about our money....
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Dec 23, 2012
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no taxes for people below but taxes above. he won. 60% of the voters said they were for it in the exit polls including some republicans. >> reporter: there is also a lot of skepticism among lawmakers. senator joe lieberman said he thinks the country is closer than ever to going over the cliff. the last time interestingly that lawmakers worked between the christmas holiday and new year's was in 1996. that is, of course, when they were dealing with the government shut down. politics will be put aside this morning. the president, a lot of members of congress will be attending that memorial service for the late senator. >> kristen welker in hawaii. we will check in with you again later in our show. >>> from the fiscal cliff to gun control nra executive vice president was on "meet the press" this morning and here is part of what he said. >> i don't understand why you can't just for a minute imagine that when that horrible monster tried to shoot his way into sandy hook school that if a good guy with a gun would have been there he mi
no taxes for people below but taxes above. he won. 60% of the voters said they were for it in the exit polls including some republicans. >> reporter: there is also a lot of skepticism among lawmakers. senator joe lieberman said he thinks the country is closer than ever to going over the cliff. the last time interestingly that lawmakers worked between the christmas holiday and new year's was in 1996. that is, of course, when they were dealing with the government shut down. politics will be...
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Dec 24, 2012
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the tax policy center. the annual income from somebody in the $50,000 to $75,000, about a $2,400 increase. jumping ahead to $100,000 to $200,000, the average tax increase, $6,600. tacking at that great divide of the wealthy, over $250,000, at least a $11,000 tax hike. over $1 million, more than $254,000. >> hampton, looking at that number, that's for those americans working right now. there are still struggling americans, millions looking for work and what's the fiscal cliff mean for them? >> reporter: okay. we have unemployment at 7.7% last month and mainly went down because people gave up looking for work and jdropped out of th job market and out of work six months or longer. 4.8 million americans, they're the folks worried the most about unemployment benefits not extended after the first of the year. >> as we look at that number, that's staggering for so many. we have a "the washington post" poll that indicates 74% of americans support raising taxes on the top earners in this country. with that support t
the tax policy center. the annual income from somebody in the $50,000 to $75,000, about a $2,400 increase. jumping ahead to $100,000 to $200,000, the average tax increase, $6,600. tacking at that great divide of the wealthy, over $250,000, at least a $11,000 tax hike. over $1 million, more than $254,000. >> hampton, looking at that number, that's for those americans working right now. there are still struggling americans, millions looking for work and what's the fiscal cliff mean for...
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Dec 29, 2012
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people making 40 to $65,000 get a $2,000 tax hike and anyone, would see a $14,000 tax bump. where else would americans see the sting? talk to me about medicare and unemployment benefits. >> this whole metaphor we've been using about a fiscal cliff probably isn't the right one to be used. after all, if you go over a cliff, you usually don't get to live to tell about it unless you're batman or spider-man, but there are things that actually would happen right away and one of those things that would be right away in a negative impact would be unemployment benefits and 2 million americans would see the unemployment benefits and that would hurt the economy and that would hurt these people that are relying on this and the unemployment insurance has been seen as economic stimulus to get hands into the money of people who need it and they were things that actually get spread over the course of 2013 if there is no fix that is actually done and it is possible for congress to go back and fix things and talking about the increase of tax rates and there will also be spending cuts to gover
people making 40 to $65,000 get a $2,000 tax hike and anyone, would see a $14,000 tax bump. where else would americans see the sting? talk to me about medicare and unemployment benefits. >> this whole metaphor we've been using about a fiscal cliff probably isn't the right one to be used. after all, if you go over a cliff, you usually don't get to live to tell about it unless you're batman or spider-man, but there are things that actually would happen right away and one of those things...
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Dec 22, 2012
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taxes shurnt go up. if they were to go up by law, conceivably they could come back in january and lower them and campaign on the fact that they lowers taxed. >> let's take a look at what speaker boehner said on friday. >> many of us believe on both sides of the aisle, the fundamental reform of our taxes will help get our economy moving faster and get more americans back to work. how we get there, god only knows. >> so the president says he's going to head back to washington after christmas to try and hammer out a deal before new year's. babe boehner said god only knows, god and ed o'keefe. how do they get there? >> for practical reasons there, are bills sitting in either chamber right now that the other chamber has passed, the house is telling the senate, pass our bill. the senate is telling the house pass our bill. either of those bills could be amended and sent back across the capitol, and make some changes, and send it back for final passage and sent send it to the president. can you get that done in
taxes shurnt go up. if they were to go up by law, conceivably they could come back in january and lower them and campaign on the fact that they lowers taxed. >> let's take a look at what speaker boehner said on friday. >> many of us believe on both sides of the aisle, the fundamental reform of our taxes will help get our economy moving faster and get more americans back to work. how we get there, god only knows. >> so the president says he's going to head back to washington...
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tacking them, taxing carbon would help give cues to drive investment into clean energy. another way -- >> they are very skeptical about clean energy. you also have to realize it's a terrible investment for the past decade. this is not an easy problem. >> one of the problems is lack of markets. the government could do a lot to fix that by consuming clean energy and vehicles. the federal government is in the u.s. is the single largest consumer of clean energy. if you add state and federal spending, if you look at the percentage of the gdp, the public sector, it's over 1%. >> and what helps is lots of natural gas in the united states. so there's even an alignment with what i think are going to be the economic interests. >> so the problem is that will probably make the unemployment problem worse and that lowers the return to investing in a heavy industry, that lowers the average real interest rate and the problem that they face is that the real interest rate is negative and that makes it difficult for us to achieve full employment. so you're making that problem harder by tax
tacking them, taxing carbon would help give cues to drive investment into clean energy. another way -- >> they are very skeptical about clean energy. you also have to realize it's a terrible investment for the past decade. this is not an easy problem. >> one of the problems is lack of markets. the government could do a lot to fix that by consuming clean energy and vehicles. the federal government is in the u.s. is the single largest consumer of clean energy. if you add state and...
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Dec 24, 2012
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as fiscal cliff talks drag into the 11th hour with $600 billion in tax hikes and spending cuts due to kick in early next year, lawmakers will get back to the table later this week after house speaker john boehner's plan b failed to get enough republican support for a vote last week. >>> still, the market has been resilient. despite friday's decline, the s&p 500 posted its best week in four. and with just five trading sessions left in 2012, the dow has advanced 8% while the s&p 500 climbed 13. the nasdaq has jumped 16%. >>> reports are due this week on pending home sales. sales of new homes and a look at home prices in the nation's 20 largest cities. >>> are you still not sure what to get for the person who has everything? new retail numbers show footwear was the fifth most popular gift on shoppers' lists on black friday. a year ago, shoes didn't even make it into the top ten gifts for the season. >>> good news for hollywood. attendance by moviegoers is up more than 5.5% so far this year. ticket revenue is projected to jump by 6% by the end of 2012 which would be the industry's biggest
as fiscal cliff talks drag into the 11th hour with $600 billion in tax hikes and spending cuts due to kick in early next year, lawmakers will get back to the table later this week after house speaker john boehner's plan b failed to get enough republican support for a vote last week. >>> still, the market has been resilient. despite friday's decline, the s&p 500 posted its best week in four. and with just five trading sessions left in 2012, the dow has advanced 8% while the s&p...
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Dec 26, 2012
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the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy going over the cliff could slow the current growth rate of 3.1% and risk sparking another recession. joining us now to break it down from washington is cnbc's john harwood. thanks for being here. >> hey, ari. >> remind us where we were before plan b, how far apart were the last comprehensive offers between the president and negotiators? >> a few hundred billion dollars, which is a lot of money, sounds like a lot of money, but in the context of a ten-year budget deal when you have some very large programs that can be tweaked one way or another, is not that much. they were within shouting distance if the speaker could bring his caucus along to support the deal that he was promoting and getting close to striking with the president, but it's clear
the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy going over the cliff could slow the current growth rate of 3.1% and risk sparking another recession. joining us now to break it down from washington is cnbc's john harwood. thanks for being here....
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Dec 28, 2012
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tax increases and other spending cuts will fall into place over time. but not with unemployment insurance. unemployment americans who rely on federal aid will be cut off on january 1st, 2013. however, there is some good news on the unemployment front. the four-week average of job claims dropped to roughly 356,000. it's the lowest level since march 2008. but unfortunately, the national unemployment rate is still 7.7%. and if republicans in congress fail to accuracy millions of unemployed americans will be off to a very rough start for the new year. for more on this let's turn to the reverend dr. haines iii, senior pastor at friendship west baptist church. dr. haines, welcome to the show. >> thank you, professor dyson. >> isn't it ironic, dr. haines, through this entire debate the focus has been on the wealthiest americans paying more taxes, not people who will lose unemployment benefits come january 1st? you're the pastor of a huge church in dallas that talks about poverty and social injustice. what's your reaction to this? >> well, not only is it ironic
tax increases and other spending cuts will fall into place over time. but not with unemployment insurance. unemployment americans who rely on federal aid will be cut off on january 1st, 2013. however, there is some good news on the unemployment front. the four-week average of job claims dropped to roughly 356,000. it's the lowest level since march 2008. but unfortunately, the national unemployment rate is still 7.7%. and if republicans in congress fail to accuracy millions of unemployed...
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Dec 27, 2012
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our state's pay high taxes. when were there when katrina victims, that's beside the point of red or blue states. you do what you have to do. that's what needs to be done right now. not only is the budget critical right now, sandy's critical and a lot of other thing that is need to be done there. amt. >> all right. >> look at the folks -- >> congressman. >> don't have a payroll. >> congressman, i have to cut you off. >> okay. >> but thank you so much. >> thank you, craig. >> keep us posted on the progress if there is any. >>> we have developing news now from the senate. just moments ago, vice president joe biden swore in hawaii's lieutenant governor brian schatz as the state's new u.s. snr. >> do you swear to support and defend the constitution of the united states against all enemies foreign and domestic, that you will bear true faith and allegiance to the same, that you take this obligation freely without any mental reservation or purpose of evasion and that you will well and faithfully discharge the duties of
our state's pay high taxes. when were there when katrina victims, that's beside the point of red or blue states. you do what you have to do. that's what needs to be done right now. not only is the budget critical right now, sandy's critical and a lot of other thing that is need to be done there. amt. >> all right. >> look at the folks -- >> congressman. >> don't have a payroll. >> congressman, i have to cut you off. >> okay. >> but thank you so much....
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higher taxes for the wealthiest americans and sensible cuts in spending. that's where the country is right now. last night republicans destroyed their own party because they refused to agree with the american people. but, of course, they think if they do something that might align themselves with president obama, it's going to be their political death knell. they have it all screwed up. it's time to hand the keys back to the adults. get your cell phones out. i want to know what you think. tonight's question, do republicans want the country to go over the fiscal cliff? text "a" for yes. text "b" for no to 622639. you can always go to our blog at ed.msnbc.com. we'll bring you the results later on in the show. i'm joined tonight by congresswoman debbie wasserman schultz. congresswoman, great to have you with us tonight. >> thanks. >> and the chair of the dnc. this has been a real circus the last 24 hours. the president today, congresswoman, went back to the basics. he basically said, let's just all get along on the 98%. >> right. >> let's just vote on that. w
higher taxes for the wealthiest americans and sensible cuts in spending. that's where the country is right now. last night republicans destroyed their own party because they refused to agree with the american people. but, of course, they think if they do something that might align themselves with president obama, it's going to be their political death knell. they have it all screwed up. it's time to hand the keys back to the adults. get your cell phones out. i want to know what you think....
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Dec 29, 2012
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programs, and thirdly, they want to p protect the wealthiest estates from any changes of the estate tax because they will have to give something on the rates, and they want to push the threathold of the rate increase as high as they could and go back to the $400,000 that they were offered from the president before. >> right. >> and all of that is absolutely true, and also in addition, what we are looking at of course is the poll numbers. when you talked, i thought it was brilliant that you said that we are the cop tes tantntestant the reality when you look at the republican actions in particular, and the republican actions are polling 20% approval and the president is polling 50% approval, but the 20% approval is about the action on the cliff and not how they play in their individual districts. so when you travel around the country, and i have been to e tea party country in arizona, et cetera, there is a huge incentive for some of the more junior members of congress to stand their ground. it doesn't have to do with the fiscal math of the country, but it has to do with the electoral math
programs, and thirdly, they want to p protect the wealthiest estates from any changes of the estate tax because they will have to give something on the rates, and they want to push the threathold of the rate increase as high as they could and go back to the $400,000 that they were offered from the president before. >> right. >> and all of that is absolutely true, and also in addition, what we are looking at of course is the poll numbers. when you talked, i thought it was brilliant...
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rates to go up and republicans don't want tax rates to go up. the best way to address our crippling debt is to make significant spending cuts and fix our tax code, to pave the way for long-term growth and opportunity. >>> nbc's kristin welker is traveling with the president in hawaii and kristin, the president you are just learning he thinks some time off could do everyone some good here. >> that's right. on friday when president obama spoke to the nation before he left to come to hawaii he urged members of congress to take these days off during the holidays, to cool off and to gain some perspective. here's more of what president obama had to say. take a listen. >> so, as we leave town for a few days to be with our families for the holidays i hope it gives everybody some perspective. everybody can cool off. everybody can drink some eggnog, have some christmas cookies and sing some christmas carols, enjoy the company of loved ones. >> now the president also conceded that given the time crunch, there's probably not enough time to get a large deal
rates to go up and republicans don't want tax rates to go up. the best way to address our crippling debt is to make significant spending cuts and fix our tax code, to pave the way for long-term growth and opportunity. >>> nbc's kristin welker is traveling with the president in hawaii and kristin, the president you are just learning he thinks some time off could do everyone some good here. >> that's right. on friday when president obama spoke to the nation before he left to come...
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take him out on his taxes. take him out on his governor as massachusetts but, more importantly, paint him as a figure of the past. someone who doesn't understand your problems, that he's someone from a bygone america who doesn't have anything to say to the voters who are going to make up our winning margin, but just to wrap that big thing back around, the 47%, romney did more -- all that have damage had been done by how obama team painted him. and then romney came out -- >> and then romney talked. >> with his own words, revealed in september, seemingly and vividly confirming in his own words through his own mouth caught on videotape, all of the worst stereotypes and kas caricatures. >> jonathan capehart, i mean, 47% we focus on that, we forget this is a guy that gets -- the greatest hits for democratic ad makers. i like firing people. do you remember that one? ten others just like that. he won a big victory in florida and the next morning go on a cable news show and say something equally shocking. >> i'm not co
take him out on his taxes. take him out on his governor as massachusetts but, more importantly, paint him as a figure of the past. someone who doesn't understand your problems, that he's someone from a bygone america who doesn't have anything to say to the voters who are going to make up our winning margin, but just to wrap that big thing back around, the 47%, romney did more -- all that have damage had been done by how obama team painted him. and then romney came out -- >> and then...
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i call it the economy tax. it's been crushing. look, i've been in business for 25 years. i have no idea what you're talking about. >> where was obama tonight? he went in there disarmed? what was romney doing? he was winning! i'll get your chance in a moment. i'm still speaking. >> i don't look at my pension. it's not as big as yours. >> you said the day after in the rose garden it was an act of terror. >> let me -- >> he did call it an act of terror. >> i brought us whole binders full of women. >> well, governor, we still have fewer horses and bayonets. you do the same things we do, but say them louder, and somehow that would make a difference. >> all tied up. our brand-new numbers on the race for president. >> here's old moderate mitt. you been, boy? i missed you these last few years. >> if you can't change washington from inside the washington, then let's get you the plane ticket back to chicago you've earned. >> don't move over. voting's the best revenge. >> revenge? instead, i ask the american people to vote for love of country. >> it's election day, america. >> today
i call it the economy tax. it's been crushing. look, i've been in business for 25 years. i have no idea what you're talking about. >> where was obama tonight? he went in there disarmed? what was romney doing? he was winning! i'll get your chance in a moment. i'm still speaking. >> i don't look at my pension. it's not as big as yours. >> you said the day after in the rose garden it was an act of terror. >> let me -- >> he did call it an act of terror. >> i...
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Dec 28, 2012
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taxes are an issue there. i think the election of francois alaund and his rate on the top end as well as some of the other things he's doing in france, lowering the retirement age, this is sort of a litmus test in some ways and it's important. maybe richard can tell me i need to learn more about the british tax code. icons on the edge. a number of names you know at home, jcpenney, best buy stock has been hammered, the maker of the blackberry, once iconic, now struggling. >> they're gone. >> they're not gone. >> last one. congratulations. >> they're struggling, and i think it's the end of an era for some companies. the $25 billion bank settlement, a huge deal. some people said it was not enough. whatever your thoughts are, it was a big story. facebook, you remember them? they have come back in the last six weeks. everyone thought this was an ipo that was going to soar. >> who manages that company? >> mark zuckerberg. that guy right there. >> poorly, i would submit. >> he built it, so who are we to judge, right?
taxes are an issue there. i think the election of francois alaund and his rate on the top end as well as some of the other things he's doing in france, lowering the retirement age, this is sort of a litmus test in some ways and it's important. maybe richard can tell me i need to learn more about the british tax code. icons on the edge. a number of names you know at home, jcpenney, best buy stock has been hammered, the maker of the blackberry, once iconic, now struggling. >> they're gone....
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Dec 27, 2012
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you'll have a chunk more in your payroll tax because the payroll tax cuts are expiring. and obviously, there's going to be some cuts in government services because of the sequestration, but it's not all going to take place in the next two days. >> leigh, all of us are aware of the fact that most people at the top of fortune 500 companies look at these clowns saying, you know, this is ridiculous. you couldn't run any business from a variety store to whatever the way -- where they try to run the country. is there any immediate impact on the markets next week with their inability to get anything done? >> yes. i mean, i think that's where we're going to see the biggest impact by far. i mean, yes, the payroll tax will take effect. that will be one of the most immediate things we see. but even that, it takes two weeks to adjust your paychecks. you know, we'll spend most of the time with the tax cuts, repairing, restoring, trying to solve that with some triage. the market doesn't care about any of that stuff. the market response is going to be psychological. it's going to be dr
you'll have a chunk more in your payroll tax because the payroll tax cuts are expiring. and obviously, there's going to be some cuts in government services because of the sequestration, but it's not all going to take place in the next two days. >> leigh, all of us are aware of the fact that most people at the top of fortune 500 companies look at these clowns saying, you know, this is ridiculous. you couldn't run any business from a variety store to whatever the way -- where they try to...